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Unlocking the value of your information asset
AVOIDING COMPLIANCE PITFALLS
Gary AllemannMaster Data Management
@mdm_za
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AML Penalties
Avoiding compliance pitfalls • establish data management system • conduct organisational screening against legislations • report suspicious activity • establish customer due diligence systems Gary Allemann, Managing Director - Master Data
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Primary Failings
• Deficiencies in identifying and verifying customer’s detail
• Failures in sanctions screening
• Failures to report qualifying transaction
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Reputational and customer impact
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Reputational and customer impact
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Data is the raw material and product of process
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The Building Blocks for effective EIM
Data Architecture
Metadata/Data Modelling
Data Security
Data Integration
MDM
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Anal
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Busin
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Inte
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BusinessDriven
IT Driven
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How does EIM support AML + Fraud?• What are our AML Data Policies?• Who is responsible?• How do we ensure traceability?• What are the Critical Data Elements?
1. Data Governance
• What are the minimum data standards for Critical AML Data Elements?• Name• Physical Address• Identification• Residence / Nationality• Date of Birth
Data Quality
• How do we identify unique customers?
• How do we screen against sanctions lists?
3 Master Data Management
• How do we flag and report suspicious transactions?
• How do we measure and track remedial actions?
Business Intelligence